Sheepfarmers’ Income
Sir,—Under the above heading, you quote sheepfairmers’ average net incomes for 1960-1961 as £2030. I am sure it would greatly interest most farmer readers if you could ascertain from the Statistics Department whether, in arriving at £2030, they have deducted from the gross income, interest at current mortgage rate of 6 per cent on Government valuation of farm, on which death duty is usually assessed and on wtuch county, rabbit board, noxious weed and all other rates are usually assessed. In a recent wages increase application, a leading witness for the Federation of Labour stated he allowed no interest at all on farm capitad, and Mr Nash stated in the House a few years ago, “it was not usual” to allow interest on farm capital. Unfortunately, lending institutions, mortgagors, and bank -managers do not share this view—Yours, etc., CORRIEDALE. September 11, 1963. [Reference is made to this questton in a leading article today.—Ed., ‘‘The Press.”]
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Press, Volume CII, Issue 30234, 12 September 1963, Page 3
Word Count
157Sheepfarmers’ Income Press, Volume CII, Issue 30234, 12 September 1963, Page 3
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